Gold in A$ is doing quite well above 1400 and any talk about interest rate falls will drive the A$ sharply lower and gold valued here sharply higher.
If US$ gold can hold around 1150 to 1200 and our dollar slides......Gold mining producers in Aus should be making nice profit moving forward, and with fuel prices falling and margins increasing... they are starting to look cheap.
If US$ Gold bounces hard above 1200 and our dollar slides then the XGD is a steal at current valuation
